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Welcome to this podcast of Climate One at the Commonwealth Club. I'm Greg Dalton, founder of Climate One.

Climate One brings together thought leaders from around the world

to advance solutions to global warming.

The Commonwealth Club is a non-profit, nonpartisan forum open to the public.

Join us online at commonwealthclub.org.

The United States is about to set a cap on carbon emissions

and enter into some form of trading of carbon emissions.

Could cap and trade be the best route to controlling those emissions?

Is carbon exchange politically feasible in the United States?

How does it compare to a carbon tax?

We're here to answer these questions with our panel of experts who will break down the details along with your questions.

Tonight we have Eileen Tut, the Deputy Secretary of Climate Change and Environmental Justice

at the California Environmental Protection Agency. Josh Margolis, the co-chief executive officer

of Cantor, CO2E, and Lawrence

Goulder, Professor of Environmental and Resource Economics at Stanford University. Please give our

panelists a warm Commonwealth Club welcome.

Larry, let's begin with you. If you could just give us sort of your summary definition and

explanation of what is carbon cap and trade? Well, cap and trade is an alternative to conventional

regulation as a means of controlling or reducing emissions of greenhouse gases like carbon dioxide.

...